What Effects Did Industrialization Have on the Working Conditions of Agriculturalists

question 6

Short Answer

What effects did industrialization have on the working conditions of agriculturalists and miners during this period?

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Definitions:

Induced Consumption

The portion of consumer spending that rises when disposable income rises and falls when disposable income decreases.

Autonomous Consumption

The minimum level of spending that must occur, even if a household has no income.

Disposable Income

The sum households have for expenditures and savings after taxes on income are deducted.

Dissaving

The process where spending exceeds income, leading to a depletion of savings or accumulation of debt.